Is Namibia on the cusp of an oil and gas revolution? The southern African nation has become a focal point of intense interest in the energy sector, thanks to a string of significant discoveries in the offshore Orange Basin.
The Orange Basin: A Game-Changer
The Orange Basin, located off Namibia’s west coast, has been making headlines since 2022 when Shell and TotalEnergies announced the discovery of light oil and natural gas in the Graff and Jonker fields.
Galp Energy’s Mopane discovery in 2023 further fueled enthusiasm. These finds have transformed Namibia into a global exploration hotspot.
| Discovery | Estimated Recoverable Oil Resources |
|---|---|
| TotalEnergies Venus | 1 billion barrels |
| Shell Graff | Significant, pending appraisal |
| Galp Mopane | Significant, pending appraisal |
Production Prospects
According to a recent Namibia country report by Africa Oil Week (AOW), TotalEnergies is expected to commence production around 2028. By early 2030, all three projects could be producing, with Namibian oil output nearing 1 million barrels per day.
Onshore Frontier Basins
While the offshore Orange Basin dominates the headlines, significant developments are underway in onshore frontier basins.
Reconnaissance Energy’s Naingopo exploration well, spudded in July, marks the first exploration of a previously untapped basin.
Challenges and Opportunities
Despite the excitement, challenges persist. The Kudu gas field, discovered in 1974, remains undeveloped. BW Energy’s plans to drill in 2025 may finally bring progress.
Meanwhile, disputes over access to diamond-rich land and pipeline routes threaten to hinder development.
A Bright Future
Namibia’s national oil company, NAMCOR, aims to become a fully fledged operator, expanding into downstream and sustainable sectors.
With attractive fiscal terms and a massive 230,000 square kilometers of licensed acreage, Namibia’s potential remains largely untapped. As the country transitions from exploration to production, investment opportunities abound.
As Namibia’s oil and gas sector continues to unfold, one thing is clear: Africa’s newest energy hotspot is open for business.
